Category: Technial Analysis

Crude Soars On Russian Invasion NewsCrude prices have surged to their highest level since summer 2014 this week, extending year to date gains just over 30%. Prices have been steadily gaining over the last week despite COT data showing a reduction in long positions, with the recent pull back proving to be a short-lived correction. […]

CitiEuropean OpenRisk-off sentiments initially permeated through markets over headlines that U.S. Secretary of State Blinken believed Russia will invade Ukraine before the night is over. This risk-off sentiment only took a turn for the worse, as Russian President Putin made a surprise speech announcing that he has authorized a special military operation. Subsequently, Bloomberg reported […]

EURUSD is falling while investors are interested in “safe haven” assets.   The major currency pair is falling amid global risk aversion. The current quote for the instrument is 1.1243. As the situation in geopolitics escalates, the demand for the “greenback” as a “safe haven” asset among investors is rising.  The statistics published yesterday showed that […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3498; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3525 and then resume moving downwards to reach 1.3365. Another signal in favour of a further downtrend will […]

Price Shift Coming? GBPCAD price action is catching my eye here. The market has been trading higher within a broad bullish channel over recent months. However, price is now potentially carving out a large double top pattern with strong bearish divergence on momentum studies. The market is now turning lower, about to test the 1.7198 […]

Risk Aversion Seen on ThursdayGlobal markets are in heavy risk-off mode today in response to news of Russia invading Ukraine. News broke in the early hours of the morning that Russia had launched an attack on several front, firing missiles, rolling troops in and deploying troops by air. There have been reports of mass casualties […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Engulfing reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, the upside target may be the resistance area at 1.2815. However, an alternative scenario implies that the […]

Type: Bearish DipKey Levels:Resistance: 14372.25Pivot: 13842.25Support: 12724.25Preferred Case: Price has recently broken through a key support level and near pivot level of 14034 in line with 38.2% Fibonacci retracement . Price can potentially dip to the support level of 13624 in line with the horizontal swing low support . Our bearish bias is supported by […]

Type: Bullish ContinuationKey Levels:Resistance: 154’09Pivot: 152’21Support: 151’15Preferred Case: Price is near pivot level of 152’21 in line with 50% Fibonacci retracement. Price can potentially go to the 1st resistance of 154’09 which is also the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above the […]

EURUSD, “Euro vs US Dollar” EURUSD is consolidating around 1.1324. Possibly, today the pair may fall to break 1.1284 and then continue trading downwards with the target at 1.1255. GBPUSD, “Great Britain Pound vs US Dollar” Having reached 1.3540 and then completed the correction at 1.3585, GBPUSD is consolidating below the latter level. Possibly, the […]